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- 1 XRP crypto price decreased by 2.47% over the past seven days.
- 2 XRP crypto price is currently trading at $0.49681 with a drop of 1.39% in the last 24 hours; market cap stands at $26.448 Billion.
The XRP crypto continues to exhibit weakness on the charts, with sellers exerting significant pressure in past few trading sessions. Furthermore, the chart structure favors the bears as the price continues to form doji candles, which shows a fight between bears and bulls.
At the time of writing, the XRP crypto price was $0.49681 with an intraday drop of 1.39%, indicating bearishness. Buyers are making efforts to gain traction in the market, but they were only able to secure a few critical levels of support. Intraday trading volume also decreased by 9.20% to $667,151,179. Moreover, the XRP crypto suggests volatility in the following sessions.
The XRP crypto is in a downtrend on the daily charts and has underperformed in the past months. Furthermore, the technical indicators continue to signal bearishness, with no signs of a bullish reversal or bounce occurring as of now.
Technical Analysis of XRP Crypto Price in 1-D Timeframe
On the 4-hour charts, XRP is currently under the control of the sellers. Buyers are unable to surpass neutrality. The price action indicates that sellers are pushing back against the bull’s lower trajectory, causing the gains from the top to erode.
The relative strength index (RSI) curve is near the neutral range of 40, indicating a negative scenario and bearishness on the charts.
The MACD indicator also suggests a neutral signal, with both moving averages converging. This suggests that a significant move could be seen in the upcoming sessions.
At the time of publishing, XRP crypto was trading above the 50 and 200-day SMAs (simple moving averages), which are supporting the price trend.
However, if selling volume adds up, then the price might conquer supporting SMAs by making lower highs and lows. Hence, the XRP price is expected to move downwards giving bearish views over the daily time frame chart.
The current value of RSI is 33 points. The 14 SMA is below the median line at 35 points which indicates that the XRP crypto is bearish.
The MACD line at -0.02376 and the signal line at -0.02657 are below the zero line. A bearish crossover is observed in the MACD indicator which signals more bearishness for the XRP crypto price.
Summary
XRP (USD: XRP) technical oscillators also support the bearish trend. The MACD, RSI, and EMA are emphasizing negative signs and imply that the downtrend may continue in the XRP crypto price. XRP Price action suggests that the investors and traders are bearish on the 1-D time frame. The price action reflects a bearish perspective at the moment.
Technical Levels
- Support Levels: $0.474 and $0.410.
- Resistance Levels: $0.554 and $0.656.
Disclaimer
The analysis provided in this article is for informational and educational purposes only. Do not rely on this information as financial, investment, or trading advice. Investing and trading in crypto involves risk. Please assess your situation and risk tolerance before making any investment decisions.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
